Top online casino software developer, CryptoLogic, has extended its contract with leading betting exchange company, Betfair, until June 2006. The agreement comes through CryptoLogic’s subsidiary for licensing, WagerLogic Limited.

“We have enjoyed a mutually profitable relationship with Betfair, and we are pleased that the relationship will continue in 2006,' says CryptoLogic's President and CEO, Lewis Rose.

Despite the extension, which has an option to extend further to January 2007, Betfair say they intend to develop their own technology and software for their core products.

The Director of Betfair Games, Steve Ives, says; “As a technology-driven betting company it is part of our natural evolution to examine ways of how we can continue offering our customers that little bit more distinction. We are pursuing ways to do this and will be ready to proceed when the current contract expires.”

WagerLogic has seen a year of growing profit, with Betfair one of the Internet’s fastest growing poker rooms, whilst their other licensees are up at about 100%.